Dr. Crystal Fulton:

No. It is more complicated than that. In the end, they might be chasing losses. They are chasing the losses because they do not want to tell anybody that they lost that money. Gamblers will always talk about the wins they had. They do not want to share that other unseemly part. The chasing losses comes when they keep losing money and they keep trying to get it back and then ends up being a vicious cycle.